L&H

Ping An reports RMB148,365 million of operating profit attributable to shareholders of the parent company in 2022, annual cash dividend per share grows by 1.7% year on year

Retrieved on: 
Wednesday, March 15, 2023
City, OneConnect Financial Technology, Ecosystem, Life, Insurance, Bank, Fintech, ROE, Belt and Road Initiative, NBV, Digital, Corporation, National Congress of the Chinese Communist Party, Hospital, Williams v Natural Life Health Foods Ltd, Pharmacy, Autohome, Guangdong–Hong Kong–Macao Greater Bay Area, National Congress, Growth, Philosophy, Policy, Ping An Bank, AUM, Risk management, Belt, Green, CPC, P&C, Ping An Insurance, Patient, Health, Ping'an, Diagnosis, Poverty, L&H, Multimedia, World Community Grid, Quality control, Small business, Chinese Communist Party Committee Secretary, Communist party, Property & Casualty Management Systems, AI, Cryptocurrency, Management, Retail, Holding company, Marketing, Health insurance

HONG KONG and SHANGHAI, March 15, 2023 /PRNewswire/ -- Ping An Insurance (Group) Company of China, Ltd. (hereafter "Ping An of China," "Ping An," or the "Group," HKEX: 2318; SSE: 601318) today announced its financial results for the year ended December 31, 2022.

Key Points: 
  • Ping An achieved a 17.9% operating ROE, with operating profit attributable to shareholders of the parent company rising 0.3% year on year to RMB148,365 million in 2022.
  • Net profit and net profit attributable to shareholders of the parent company amounted to RMB107,432 million and RMB83,774 million respectively.
  • Ping An achieved a 17.9% operating ROE in 2022, with operating profit attributable to shareholders of the parent company rising 0.3% year on year to RMB148,365 million.
  • Ping An attaches importance to shareholder returns, and the annual cash dividend per share continued to grow 1.7% year on year to RMB2.42.

Pianist/Composer Yelena Eckemoff Presses Forward with Her Bold, Conceptual Vision of Jazz on "Lonely Man and His Fish," Due April 28

Retrieved on: 
Saturday, March 11, 2023
Steps, Fissure, Ear, Jason Figgis, Iron Curtain, Pond, Wild, Life, Gress, Wind, Animal, Painting, Yelena Eckemoff, Accident, Empty House, Flying Steps, Home, Into the Wild, Alchemy, L&H, Music, Empathy, Nightclub, Book, Film industry, Lonely

RICHMOND, Calif., March 11, 2023 /PRNewswire-PRWeb/ -- Pianist-composer Yelena Eckemoff's body of elaborate, ambitious jazz concept albums reaches a new virtuosic summit with "Lonely Man and His Fish," to be released April 28 on her own L&H Production label. A double-CD set, the album is also a long-form parable, a story of deep affection between a human and his beloved pet. An all-star lineup—cornetist Kirk Knuffke, flutist Masaru Koga, bassist Ben Street, and drummer Eric Harland—helps Eckemoff breathe life into the tale.

Key Points: 
  • A double-CD set, the album is also a long-form parable, a story of deep affection between a human and his beloved pet.
  • An all-star lineup—cornetist Kirk Knuffke, flutist Masaru Koga, bassist Ben Street, and drummer Eric Harland—helps Eckemoff breathe life into the tale.
  • Eckemoff, who is an artist and poet as well as a pianist and composer, typically creates imagery and text to augment her programmatic music.
  • Her unique, sophisticated, and highly expressive music continues to draw support and creative energy from the finest musicians in the world.

2022 Annual Results: SCOR ends 2022 with a net income of EUR 208 million in Q4 and proposes a dividend of EUR 1.40 per share

Retrieved on: 
Thursday, March 2, 2023
P&C, OCI, Property, Solvency, National Organization of Life and Health Insurance Guaranty Associations, CPP Investment Board, Annual, EUR, Economic value added, Policy, CSM, DTA Combo, SCOR, Weather, L&H, Roe, Annual general meeting, Outline, Environment, Flood, Life, Growth, Value, Film industry, Lithium, Insurance, Video game, Rare-earth element, Reinsurance, Cryptocurrency, COVID-19

SCOR ends 2022 with an accounting loss of EUR 301 million, which has been significantly reduced by the strong results in the fourth quarter.

Key Points: 
  • SCOR ends 2022 with an accounting loss of EUR 301 million, which has been significantly reduced by the strong results in the fourth quarter.
  • In Q4 2022, the Group generates a net income of EUR 208 million (equivalent to an annualized RoE of 16.8%), with each of the three business units delivering a positive result.
  • This net loss is reduced compared to Q3 2022 thanks to the Group’s strong performance and net income of EUR 208 million in Q4 2022.
  • SCOR therefore proposes a dividend of EUR 1.40 per share for the fiscal year 2022.

First nine months 2022 results: SCOR takes action to restore profitability in a challenging environment

Retrieved on: 
Wednesday, November 9, 2022
Director, Property, Health, YTD, AA, Investment, Tax withholding, National Organization of Life and Health Insurance Guaranty Associations, L&H, Acceleration, Tier 1, Tropical Storm Ian, COVID-19 deaths, COVID-19, Environment, Board, Life, Mortality, Efficiency, DTA, P&C, SCOR, Conservation in the United Kingdom, OCI, ProSight Specialty Insurance, Death, KPI-driven code analysis, Industry, EUR, Income, Reinsurance, Film, Renewable energy, Pharmaceutical industry, Phosphorus, Insurance, Risk management, Audit, Group, Q3

In the third quarter of 2022, the reinsurance industry continues to face a challenging environment.

Key Points: 
  • In the third quarter of 2022, the reinsurance industry continues to face a challenging environment.
  • Going forward, SCOR expects to be able to absorb the DTA utilization and reduction in recoverability period.
  • This strong capital base will enable SCOR to take advantage of the acceleration of the hardening of the P&C market.
  • The Group cost ratio accounts for 4.5% of gross written premiums in the first nine months of 2022.

Majesco’s Fall ‘22 Product Release Empowers Insurers to Accelerate Innovation

Retrieved on: 
Thursday, October 13, 2022
Software, Insurance, Networks, Data Analytics, Internet, Data Management, Professional Services, Technology, Cloud, Adoption, API, L&H, Insurance, AH, TCO, Risk, Growth, Review, ISG, Software as a service, Solution, Digital, Industry, Insurance industry in China, Technology, Analytics, TPA, Autumn, Ecosystem, Overalls, Property, Distribution management system, P&C, Microsoft, Bone marrow, Â, Leadership, Risk management, Retail, Video game console, Majesco Entertainment

Majescos product roadmap is relevant to current and future needs of our customers, said Manish Shah, President & Chief Product Officer at Majesco.

Key Points: 
  • Majescos product roadmap is relevant to current and future needs of our customers, said Manish Shah, President & Chief Product Officer at Majesco.
  • The Fall 22 Release highlights Majescos continued approach to helping insurers achieve operational effectiveness and innovation.
  • Beyond the key cross platform enhancements Majescos Fall 22 Release also includes:
    P&C Core Suite No-Code Billing configuration wizards, embedded property analytics, agent portal, integrated loss control, Reinsurance integration, new APIs, advancing intelligent and digital capabilities.
  • Majescos Fall 22 Release provides key core, digital, analytics, and other enhancements that supports these key capabilities required by insurers today, stated Karen Furtado, Partner at Strategy Meets Action.

AM Best Revises Outlooks to Positive for Assurant, Inc. and Its Property/Casualty Subsidiaries; Upgrades Credit Ratings of Its Life/Health Subsidiaries

Retrieved on: 
Friday, August 26, 2022
Insurance, Professional Services, Empire HealthChoice Assurance, Inc. v. McVeigh, PR, NYSE, Long-Term Capital Management, Good, Assurant, Overalls, ERM, AM, AIZ, AM Best, L&H, Growth, FSR, Long-term support, Credit, Risk management, Insurance

At the same time, AM Best has revised the outlook to positive and affirmed the Long-Term ICR of bbb+ (Good) and all associated Long-Term Issue Credit Ratings (Long-Term IRs) and indicative Long-Term IRs of Assurant.

Key Points: 
  • At the same time, AM Best has revised the outlook to positive and affirmed the Long-Term ICR of bbb+ (Good) and all associated Long-Term Issue Credit Ratings (Long-Term IRs) and indicative Long-Term IRs of Assurant.
  • AM Best also has affirmed the Short-Term IR.
  • The outlook of these Credit Ratings (ratings) is stable.
  • The FSR of A (Excellent) and the Long-Term ICRs of a+ (Excellent) have been affirmed with the outlooks revised to positive from stable for the following P/C subsidiaries of Assurant, Inc.:

AM Best Downgrades Credit Ratings of Kemper Corporation, Its Affiliates and Subsidiaries

Retrieved on: 
Thursday, August 11, 2022
Insurance, Professional Services, Credit, FSR, ERM, NYSE, Long-Term Capital Management, Good, Kemper, Medical Mutual of Ohio, AM, L&H, Fullerton Health Group, Review, Casualty, Kemper Corporation, KMPR, Infinity, AM Best, Weakness, Insurance, Long-term care insurance, Risk management

AM Best has downgraded the Financial Strength Rating (FSR) to A- (Excellent) from A (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICR) to a- (Excellent) from a (Excellent) of the property/casualty subsidiaries and affiliated insurance companies of Kemper Corporation (Kemper Corp.) [NYSE: KMPR], collectively referred to as Kemper Property & Casualty Group (Kemper P&C).

Key Points: 
  • AM Best has downgraded the Financial Strength Rating (FSR) to A- (Excellent) from A (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICR) to a- (Excellent) from a (Excellent) of the property/casualty subsidiaries and affiliated insurance companies of Kemper Corporation (Kemper Corp.) [NYSE: KMPR], collectively referred to as Kemper Property & Casualty Group (Kemper P&C).
  • AM Best also has downgraded the FSR to A- (Excellent) from A (Excellent) and the Long-Term ICRs to a- (Excellent) from a (Excellent) of Kemper Corp.s life/health subsidiaries, collectively referred to as Kemper Life & Health Group (Kemper L&H) (Chicago, IL).
  • Concurrently, AM Best has downgraded the Long-Term ICR to bbb- (Good) from bbb (Good) and downgraded the Long-Term Issue Credit Ratings (Long-Term IR) and indicative Long-Term IRs of Kemper Corp., the ultimate parent, headquartered in Chicago, IL.
  • The outlook of these Credit Ratings (ratings) has been revised to stable from negative.

Half-year 2022 results - The combination of the war in Ukraine, Natural Catastrophe events and the severe drought in Brazil affect SCOR’s profitability in H1 2022

Retrieved on: 
Thursday, July 28, 2022
Investment, Environment, Fear, Awareness, COVID-19, Insurance, PML4, Life, Climate change, Drought, Industry, Natural Resources, Solvency, EUR, Culture, Cornerstone, Property, Health, National Organization of Life and Health Insurance Guaranty Associations, OCI, IFRS 17, Income, Climate, Risk, Adoption, IFRS, IFRS 9, GWP, MSCI, Flood, P&C, OBS, SCOR, Assault, Positive economics, Broadridge Financial Solutions, Projection, ESG, ECL, Growth, L&H, Longevity, Risk management, Film, Reinsurance, Renewable energy, Pharmaceutical industry, Life insurance, Group

The combination of the war in Ukraine, Natural Catastrophe events and the severe drought in Brazil affect SCORs profitability in H1 2022.

Key Points: 
  • The combination of the war in Ukraine, Natural Catastrophe events and the severe drought in Brazil affect SCORs profitability in H1 2022.
  • The combination of these events has significantly affected SCORs results, leading to a net loss of
    EUR -239 million for the first half of 2022, of which EUR -159 million was incurred in the second quarter.
  • The reduced profitability notably reflects the cost of the claims related to the drought that impacted corn and soy crops in southern regions of Brazil.
  • SCOR is currently adopting a more selective approach in Reinsurance P&C Lines, however the H1 2022 GWP growth is still benefitting from recent underwriting years.

AM Best Affirms Credit Ratings of Munich Reinsurance Company and Its Subsidiaries

Retrieved on: 
Wednesday, July 27, 2022
Insurance, Professional Services, Munich Reinsurance America, EUR, Health, Princeton University, Williams v Natural Life Health Foods Ltd, Life, FSR, Credit, L&H, AM Best, Superior, Insurance, Film, Munich Re

AM Best has affirmed the Financial Strength Rating of A+ (Superior) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of aa (Superior) of Munich Reinsurance Company (Munich Re) (Germany) and its subsidiaries.

Key Points: 
  • AM Best has affirmed the Financial Strength Rating of A+ (Superior) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of aa (Superior) of Munich Reinsurance Company (Munich Re) (Germany) and its subsidiaries.
  • AM Best also has affirmed the Long-Term ICR of a (Excellent) of Munich Re America Corporation (Munich Re America) (Princeton, NJ) and associated Long-Term Issue Credit Ratings (Long-Term IR).
  • The ratings reflect Munich Res balance sheet strength, which AM Best assesses as strongest, as well as its strong operating performance, very favourable business profile and very strong enterprise risk management.
  • The FSR of A+ (Superior) and the Long-Term ICRs of aa (Superior) have been affirmed with stable outlooks for Munich Reinsurance Company and its following subsidiaries:

First quarter 2022 results: SCOR absorbs the combined impact of potential claims related to the conflict in Ukraine, a series of natural catastrophes and the continuation of the pandemic in the United States

Retrieved on: 
Friday, May 6, 2022
Property, SCOR, Communication, Mission statement, Flood, IFRS 17, Mortality, Omicron, Risk management, COVID-19, Human, EUR, P&C, National Organization of Life and Health Insurance Guaranty Associations, L&H, Investment, Environment, Industry, Interest, PML, IFRS, Efficiency, Loss, Life, Annual general meeting, Technology, Growth, CSM, Reinsurance, Film, Insurance, Renewable energy, Mobile phone, Financial services, Group

The level of natural catastrophes remains very high with windstorms in Europe, floods in Australia and an earthquake in Japan.

Key Points: 
  • The level of natural catastrophes remains very high with windstorms in Europe, floods in Australia and an earthquake in Japan.
  • Despite these negative developments, the Group remains well capitalized with a 240% solvency ratio estimated at the end of Q1 2022.
  • SCOR PO (the subsidiary owned by SCOR in Russia) has stopped underwriting new business.
  • The net combined ratio stands at 103.7%, including 10.1% of natural catastrophes, above the cat budget of 8%.